Dec 9, 2010
| Last Updated
Food prices continued to soar in November, although vegetable prices peaked around the middle of the month due to government intervention, providing some hope that China will escape its current inflationary spiral in the months ahead. According to RGE’s calculations based on the higher-frequency data available, China’s food prices increased nearly 13% y/y on average in November. Following the usual pattern, this should translate into a smaller y/y gain for the food subindex of the CPI. We have penciled in an 11.9%[...]
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